10-QPeriod: Q1 FY2026

AMETEK INC/ Quarterly Report for Q1 Ended Mar 31, 2026

Filed April 30, 2026For Securities:AME

Summary

AMETEK, Inc. (AME) reported a strong first quarter for fiscal year 2026, with significant year-over-year growth in net sales, operating income, and diluted earnings per share. Net sales increased by 11.3% to $1.93 billion, driven by a combination of organic growth, strategic acquisitions, and favorable foreign currency translation. The company achieved record operating income and backlog, underscoring the effectiveness of its operational initiatives and recent acquisitions, including FARO Technologies and LKC Technologies. Profitability metrics also showed robust improvement, with operating income up 13.2% to $514.9 million and diluted earnings per share rising 14.5% to $1.74. The company's strategic focus on its Electronic Instruments Group (EIG) and Electromechanical Group (EMG) continues to yield positive results, with EMG demonstrating particularly strong operating margin expansion. AMETEK also maintained a healthy financial position, with substantial operating cash flow and a decreasing debt-to-capital ratio, signaling effective capital management.

Financial Highlights

51 data points
Beta

Revenue

$1.93B

37.2% Gross Margin

Net Income

$399.36M

20.7% Net Margin

EPS (Diluted)

$1.74

Total Assets

$16.31B

Cash & Equivalents

$481.25M

Free Cash Flow

$426.05M

Financial Statements
Beta
Revenue$1.93B
Cost of Revenue$1.21B
Gross Profit$717.56M
SG&A Expenses$202.62M
Operating Expenses$1.41B
Operating Income$514.94M
Net Income$399.36M
EPS (Basic)$1.74
EPS (Diluted)$1.74
Shares Outstanding (Basic)228.90M
Shares Outstanding (Diluted)229.84M

Key Highlights

  • 1Net sales increased by 11.3% to $1.93 billion for Q1 2026 compared to $1.73 billion in Q1 2025.
  • 2Diluted earnings per share (EPS) rose 14.5% to $1.74 in Q1 2026 from $1.52 in Q1 2025.
  • 3Operating income grew 13.2% to $514.9 million, reflecting strong operational performance and acquisition integration.
  • 4The company achieved record orders of $2.22 billion and a record backlog of $3.87 billion as of March 31, 2026.
  • 5Acquisitions, notably FARO Technologies (July 2025) and LKC Technologies (January 2026), contributed positively to revenue growth.
  • 6Electromechanical Group (EMG) showed significant operating margin expansion, increasing by 380 basis points.
  • 7AMETEK returned capital to shareholders through $77.8 million in dividends paid and $27.9 million in share repurchases during the quarter.

Frequently Asked Questions

Revenue growth was driven by a combination of factors: a 5% increase in organic sales, a 4% contribution from recent acquisitions (FARO Technologies and LKC Technologies), and a 2% favorable impact from foreign currency translation. International sales, particularly in Europe and Asia, also saw significant growth.

The acquisitions of FARO Technologies and LKC Technologies positively contributed to revenue and order growth. While they had a dilutive impact on operating margins (approximately 80 basis points on consolidated operating margins and 140 basis points on EIG operating margins), the company's operational excellence initiatives helped to offset some of this impact and drive overall margin improvement when excluding acquisition effects.

AMETEK demonstrates a strong financial position. Operating cash flow increased by 8.1% to $451.5 million. The company's debt-to-capital ratio decreased to 16.6% and the net debt-to-capital ratio decreased to 13.4%. AMETEK has substantial available borrowing capacity under its revolving credit facility and believes it has sufficient resources to meet its obligations.

The company notes risks related to geopolitical developments (Middle East conflict), tariffs and trade disputes, global supply chain disruptions, and evolving macroeconomic conditions. Management is actively monitoring these factors and implementing strategies to mitigate their impact.